US Q1 prelim unit labor costs +2.7% vs +3.0% q/q annualized expected

Highlights of the Q1 nonfarm productivity report

• Prior unit labor costs +2.5% q/q (revised to +2.1%)
• Nonfarm productivity +0.7% vs +0.9% expected
• Prior nonfarm productivity revised to +0.3% vs 0.0% prior

There isn't anything to get excited about here for the US dollar bulls. Note the downward revisions as well.